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How can i tell when an Accounting Period doesn’t end in the second tax year for the second rule to apply? (using 6th april to 5th april in calculation)
hi,
for example a sole trader started trading on 1 February 2010 making up accounts for 18
months to 31 July 2011 and annually thereafter to 31 July. His profits are:
18 months to 31 July 2011 £9,000
so
starting date 1 feb 2010
accounting date = 31 july09/10 1.2.10 – 5.4.10 1000
10/11 Q) does an accounting date ends in the tax year
an accounting date ending in this tax year would have been 31 july 2010 but the sole trader made his first accounts for 18 months upto 31 july 2011
A) no, accounting date does not end in 10 /11
6.4.10 -5.4.11 6000
11/12 current year basis y/e 31 july 2011 6000
hope that helps
Kind Regards
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